Morocco and Israel signal commerce and funding cooperation deal

Issued on: 21/02/2022 – 14:23

Israel is concentrating on annual commerce quantity of $500 million with Morocco, up from $131 million presently as the 2 international locations look to broaden cooperation since they normalised relations in 2020, Israel’s financial system minister mentioned on Monday. 

Orna Barbivai made the assertion following talks in Rabat with Moroccan business and commerce minister Ryad Mezzour, with whom she signed a commerce and funding cooperation deal.

Underneath this deal, the 2 international locations commit to facilitating commerce and investments within the aerospace, car, agri-food, textile and pharmaceutical industries specifically, Mezzour instructed reporters.

The settlement was a part of the implementation of a deal to renew ties brokered by the Trump administration in 2020.

Earlier within the day, Barbivai mentioned together with her Moroccan counterpart Nadia Fettah Alaoui future agreements on funding incentives, customs cooperation and double taxation, Morocco’s financial system and finance ministry mentioned in a press release.

Morocco can also be wanting ahead to cooperating with Israel in fields regarding industrial analysis and improvement and the establishing of commercial zones, Mezzour mentioned.

Barbivai’s go to to Morocco comes three months after the two international locations signed a defence pact.

(REUTERS) 



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